Agile Financial Reporting
One Single Version of the Truth
The Business Problem
Group Finance teams face increasing pressure for month end reporting to be delivered in shorter and shorter timescales.
Financial numbers must be reliable and survive more thorough scrutiny from increasingly aggressive regulators and stakeholders.
Board packs are becoming the size of small novels with Risk, KPI and other data being collated from spreadsheets and diverse systems.
The need for a shorter time to close is exacerbated by increasing workload and the need to demonstrate thoroughness and proof of process in how numbers were derived.
Our products are pre-connected, e.g.: Risks defined in one place are then visible in the Reporting process alongside the financial numbers.
Using Excel as the 'front end' to our Cloud Database means Finance are able to tweak the logic of their reports expertly and rapidly.
Power BI is pre-connected to all of our data so assembling flexible reporting dashboards spanning Risk and Financials is fast and simple
Our expert support team are always on hand to help build complex reports, accelerate financial close automation steps and more.
- Cost - less FTE time wasted on manual cutting and pasting
- Time - to Financial Close because of fewer dependencies (waiting for one person to finish working on a required spreadsheet)
- Risk – more reliable numbers because of the sophisticated cloud database replacing spreadsheet weaknesses
- Flexibility and agility in the creation of reports means a better financial close faster
- Adoption by finance teams because the familiar spreadsheet approach works with their BAU processes
Cloud CFO is a product containing 3 pre-integrated modules with each one solving a specific business problem in the production of:
- Management Accounts
- Financial Risk Modelling
This speed to final reports happens because the main interface to Cloud CFO is Excel, which of course is familiar to all Finance teams.
This approach makes matters much simpler for our customers; they are very familiar with Excel and therefore already have a foundation with no need to train within a new system.
Cloud CFO was developed in conjunction with UK government R&D SMART and Innovate grants and collaborating with finance teams from group companies throughout the world. We are always striving to improve and extend the functionality and usability of Cloud CFO with regular updates available to all of our customers.
We are also developing new products and modules to integrate directly into finance systems, make the most of analytics and BI tools and use the latest cutting edge AI techniques for the processing and analysis of financial data.
What our customers say
“Having made a couple of acquisitions this year, the benefits of having a product like Cloud CFO have been made very clear. We haven’t had to face the challenge of bolting more spreadsheets on and we can be confident that we have the checks and balances in place to tell us what is and isn’t working. With Cloud CFO now capturing information on a monthly basis, the product has given us the ability for more enhanced reporting.”
Nick Ogden, FCA, Group Financial Director, Norman Hay PLC
“With Cloud CFO supporting us, we know that everything in the system will have been checked and that the figures are 100 per cent correct.”
Tomas Berntsson, CEO
“In selecting Cloud CFO, we have rolled all our month end processes into a single, competitively priced system that will improve efficiency as well as provide us with the necessary time and capability to analyse the numbers in detail.”